Ardelyx develops novel, first-in-class oral therapeutics to correct mineral metabolism and metabolic disorders. The Company's molecules, whose systemic exposure is severely restricted, target transporters and receptors, modulating the uptake of nutrients or inducing secretion of key hormones to produce a therapeutic benefit in patients. Its non-systemic products act from within the intestines to avoid potential side effects that could occur with systemic exposure.Ardelyx lead product, RDX5791, a minimally-absorbed, orally administered NHE3 sodium transport inhibitor, is being developed both for constipation-predominant irritable bowel syndrome (IBS-C) and for prevention of excess dietary sodium absorption, a new treatment modality for high blood pressure. RDX5791 is in phase 2 for IBS-C and a dose-ranging/regimen study for inhibition of excess dietary sodium absorption. Ardelyx is also developing RDX002, a minimally-absorbed, orally administered NaP2b phosphate transport inhibitor for the inhibition of phosphate absorption in patients with chronic kidney disease, and RDX009, a minimally-absorbed, orally administered TGR5 agonist for the treatment of type 2 diabetes through direct induction of intestinal incretins such as GLP-1 and PYY.